Business & Finance

Carney says trade talks slightly intensified as Canada absorbs tariff costs

U.S. tariffs on roughly $20 billion in Canadian goods remain, with steel exports down and consumer prices up 3%.

Updated Oct 27, 2026 · 00:24 UTC2 reports

The short version

U.S. tariffs remain on roughly $20 billion in Canadian goods, and the Bank of Canada says steel exports have fallen by roughly half since they took effect.[Fox News]
Consumer prices were 3% higher in August than a year earlier, and affected goods reportedly rose about 6% more than unaffected items, according to the central bank.[Fox News]
Prime Minister Mark Carney said talks have slightly intensified and credited any progress to Washington moving toward Canada's demands, while a White House adviser suggested the countries are close to a deal.[Associated Press]
Canada rejected Washington's terms in August, and Trump has said he would lift some 50% tariffs while imposing new ones on dozens of other products.[Associated Press]

U.S. tariffs remain in place on roughly $20 billion in Canadian goods.[Fox News]
Steel exports have fallen by roughly half since the tariffs took effect, according to the Bank of Canada.[Fox News]
Consumer prices were 3% higher in August than a year earlier, according to government data.[Fox News]
Carney said trade talks with the Trump administration have slightly intensified and attributed any progress to Washington moving closer to Canada's demands.[Associated Press]
Canada rejected Washington's terms in August, and Trump later said he would lift some 50% tariffs while imposing new tariffs on dozens of other products.[Associated Press]

Whether the talks will produce an agreement remains unconfirmed; the White House adviser's comments suggest a deal is close but do not establish one.[Associated Press]

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.